Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSIBK607 Mapping and Delivery Guide
Lead ethical work practices in an insurance brokerage

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSIBK607 - Lead ethical work practices in an insurance brokerage
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to provide leadership in the application of ethical work practices in an insurance brokerage. It applies to individuals who use specialised knowledge, systematic approaches and analytical skills to provide leadership in managing strategic organisational activity.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the insurance broking field of work and include access to:

common office equipment, technology, software and consumables

organisational records

organisational policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.

Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Evaluate ethical standards and issues impacting on business and professional goals
  • Research legal and ethical framework against which professional practices are to be reviewed
  • Identify emerging trends and developments in corporate governance and accountabilities that may impact on insurance broking sector
  • Monitor brokerage work practices to identify compliance with relevant legislation and issues likely to impact on business directions
  • Review internal service standards, policies and operations within brokerage
  • Assess brokerage performance against industry standards, compliance obligations and internal business standards
  • Evaluate findings to identify areas within brokerage where ethical standards are required or modifications to existing standards needed.
       
Element: Set future goals and strategies to achieve ethical standard outcomes
  • Determine goals and directions for ethical standards in brokerage
  • Identify strategies and practices to achieve ethical standards outcomes
  • Establish measures of service performance that provide accurate and accessible information on ethics as part of service provision
       
Element: Develop implementation plan for ethical standards
  • Review resources to achieve ethical broking goals
  • Identify resources required to implement strategies
  • Identify performance measures to determine if planned outcomes are achieved and to identify variations to plan
  • Establish monitoring system to track compliance with ethical standards
       
Element: Analyse own professional practice
  • Benchmark own performance against recognised industry standards for professional practice
  • Analyse personal business practices, systems and resources to determine effectiveness and areas for improvement
  • Identify issues likely to impact on ability to provide service delivery ethically and likely impact on professional practice goals
  • Define ethical practice goals and strategies to achieve them
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Evaluate ethical standards and issues impacting on business and professional goals

1.1 Research legal and ethical framework against which professional practices are to be reviewed

1.2 Identify emerging trends and developments in corporate governance and accountabilities that may impact on insurance broking sector

1.3 Monitor brokerage work practices to identify compliance with relevant legislation and issues likely to impact on business directions

1.4 Review internal service standards, policies and operations within brokerage

1.5 Assess brokerage performance against industry standards, compliance obligations and internal business standards

1.6 Evaluate findings to identify areas within brokerage where ethical standards are required or modifications to existing standards needed.

2. Set future goals and strategies to achieve ethical standard outcomes

2.1 Determine goals and directions for ethical standards in brokerage

2.2 Identify strategies and practices to achieve ethical standards outcomes

2.3 Establish measures of service performance that provide accurate and accessible information on ethics as part of service provision

3. Develop implementation plan for ethical standards

3.1 Review resources to achieve ethical broking goals

3.2 Identify resources required to implement strategies

3.3 Identify performance measures to determine if planned outcomes are achieved and to identify variations to plan

3.4 Establish monitoring system to track compliance with ethical standards

4. Analyse own professional practice

4.1 Benchmark own performance against recognised industry standards for professional practice

4.2 Analyse personal business practices, systems and resources to determine effectiveness and areas for improvement

4.3 Identify issues likely to impact on ability to provide service delivery ethically and likely impact on professional practice goals

4.4 Define ethical practice goals and strategies to achieve them

Evidence of the ability to:

conduct high level analysis to define the ethical framework for professional insurance brokers

conduct a detailed review of current ethical work practices within the organisation against suitable benchmark measures

develop an implementation plan to achieve identified practice that includes performance measures

critically analyse own work practices, and identify strategies and practices to maintain high ethical standards in own broking role.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must :

describe research activities designed to identify and analyse information on ethical standards, legal requirements and industry codes relevant to the insurance broking sector

outline leadership strategies that can be applied to the practical application of ethical standards in insurance broking

explain the process of benchmarking to monitor, review, analyse and diagnose ethical business practice

explain the application of conceptual thinking and reasoning skills in identifying ethical acceptable and unacceptable practices

outline use of change management and innovation techniques to identify useful strategies to implement ethical standards.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Evaluate ethical standards and issues impacting on business and professional goals

1.1 Research legal and ethical framework against which professional practices are to be reviewed

1.2 Identify emerging trends and developments in corporate governance and accountabilities that may impact on insurance broking sector

1.3 Monitor brokerage work practices to identify compliance with relevant legislation and issues likely to impact on business directions

1.4 Review internal service standards, policies and operations within brokerage

1.5 Assess brokerage performance against industry standards, compliance obligations and internal business standards

1.6 Evaluate findings to identify areas within brokerage where ethical standards are required or modifications to existing standards needed.

2. Set future goals and strategies to achieve ethical standard outcomes

2.1 Determine goals and directions for ethical standards in brokerage

2.2 Identify strategies and practices to achieve ethical standards outcomes

2.3 Establish measures of service performance that provide accurate and accessible information on ethics as part of service provision

3. Develop implementation plan for ethical standards

3.1 Review resources to achieve ethical broking goals

3.2 Identify resources required to implement strategies

3.3 Identify performance measures to determine if planned outcomes are achieved and to identify variations to plan

3.4 Establish monitoring system to track compliance with ethical standards

4. Analyse own professional practice

4.1 Benchmark own performance against recognised industry standards for professional practice

4.2 Analyse personal business practices, systems and resources to determine effectiveness and areas for improvement

4.3 Identify issues likely to impact on ability to provide service delivery ethically and likely impact on professional practice goals

4.4 Define ethical practice goals and strategies to achieve them

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Research legal and ethical framework against which professional practices are to be reviewed 
Identify emerging trends and developments in corporate governance and accountabilities that may impact on insurance broking sector 
Monitor brokerage work practices to identify compliance with relevant legislation and issues likely to impact on business directions 
Review internal service standards, policies and operations within brokerage 
Assess brokerage performance against industry standards, compliance obligations and internal business standards 
Evaluate findings to identify areas within brokerage where ethical standards are required or modifications to existing standards needed. 
Determine goals and directions for ethical standards in brokerage 
Identify strategies and practices to achieve ethical standards outcomes 
Establish measures of service performance that provide accurate and accessible information on ethics as part of service provision 
Review resources to achieve ethical broking goals 
Identify resources required to implement strategies 
Identify performance measures to determine if planned outcomes are achieved and to identify variations to plan 
Establish monitoring system to track compliance with ethical standards 
Benchmark own performance against recognised industry standards for professional practice 
Analyse personal business practices, systems and resources to determine effectiveness and areas for improvement 
Identify issues likely to impact on ability to provide service delivery ethically and likely impact on professional practice goals 
Define ethical practice goals and strategies to achieve them 

Forms

Assessment Cover Sheet

FNSIBK607 - Lead ethical work practices in an insurance brokerage
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

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Assessor name:

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Assessment Record Sheet

FNSIBK607 - Lead ethical work practices in an insurance brokerage

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

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